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Code · Arizona · Title 47 — Welfare, Social Services, and Institutions

47-3306. Claims to an instrument

67 words·~1 min read·/az/title-47/47-3306

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
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